February 15, 2021 - Biz in 60

Business in 60 Seconds

Japan economy grows 12.7% year-on-year in fourth quarter Japan's economy has recorded another quarter of double-digit growth thanks to a surge in exports. GDP grew an annualised 12.7-percent from October through December.. following a record 22.9-percent expansion in the prior quarter. But for the full year, the world's third largest economy shrank 4.8-percent, the first annual contraction since the 2009 financial crisis. Bitcoin retreats from high of $50,000 due to profit-taking Bitcoin has retreated from record highs a day after it reached nearly 50-thousand dollars. The world's biggest cryptocurrency dropped as much as 6-percent to just below 46-thousand dollars, as investors took profits from a weekend rally. The digital token was up around 25-percent last week, driven by endorsements from Tesla and the investment bank, BNY Mellon. Jaguar luxury cars to go fully electric by 2025 Luxury car brand, Jaguar, will go all-electric as the auto industry adapts to tighter emissions limits around the world. Jaguar Land Rover, which is owned by India's Tata Motors, says all Jaguar models will be entirely powered by batteries by the middle of this decade. JLR is also aiming to become a net zero carbon company by 2039.